Bankless Banking

3,742 views

Published on

Published in: Business, Economy & Finance
0 Comments
4 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
3,742
On SlideShare
0
From Embeds
0
Number of Embeds
26
Actions
Shares
0
Downloads
157
Comments
0
Likes
4
Embeds 0
No embeds

No notes for slide

Bankless Banking

  1. 2. P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction " The future of open source finance " 9 July 2007 Liz Azyan Bankless banking?
  2. 3. Introduction – Storeless stores “ P2P at banking is about people who lend each other money through the Internet.” for Loans? P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  3. 4. P2P Technology Examples P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction Music Movies Softwares
  4. 5. P2P Lending Networks Zone of Possible Agreement P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction Game changers
  5. 6. Game changers / Potential industry disruptors “ Any industry making a huge profit margin off its customers is a good candidate for disruption.” P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  6. 7. Why YOU should know…. Zopa is coming to Italy! P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  7. 8. Zopa Facts Default rate 0.05% 170, 000+ members after 2 years Cheapest loans in the UK, no early repayment penalty Great financial return – 30% better return than leaving money with ING Direct (leading direct savings bank) Now being copied in US, Germany, Canada, Denmark, Holland and Italy eBay, Virgin and Facebook have all entered the Social Lending market in the last 2 months Zopa getting ready to launch in the US and franchising elsewhere P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  8. 9. Is it appealing to the market? 74% Consumers would consider borrowing online through a ‘social lending’ community rather than a high street bank. 43% - 69% people felt that the interest charged on borrowing from high street banks was not fair in comparison to the interest rate received on savings and investments. 64% General bankers said that they had received charges from their principle bank which they felt were unfair or unreasonable P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction No wonders awards…..
  9. 10. Awards (Winning criteria’s) Best Internet Project 2007 Neil Taylor, The Banker - "What really impressed the judges was Zopa’s switch from ‘non-commercial’ to ‘regulated’ credit agreements in June 2006. By using new technology Zopa was able to deliver an unmatched level of real time service bringing borrowers and lenders together in a very robust risk-management environment." Best Banking/Bill-Paying Website 2007 David-Michel Davies, Executive Director of The Webby Awards – “Zopa's selection as winner is a testament to the skill, ingenuity and vision of its creators.” "The peer-to-peer answer to the high margins of traditional banking.” P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction Connecting lenders and borrowers
  10. 11. Matchmaking lenders with borrowers – dating website? P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction Web 2.0?
  11. 12. Let’s recap! P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  12. 13. Web 2.0 Technology Driven P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  13. 14. Collaborators and Investors Sir Richard Branson's Virgin Group has taken a majority stake in Massachusetts-based CircleLending, a provider of loan administration services that specialises in managing loans between relatives and friends. The investment will form the foundation for a new Virgin-branded financial services offering in the US. P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  14. 15. Motivation: Users create content Each day, for instance, volunteers create close to 10, 000 articles for the online encyclopaedia Wikipedia . P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  15. 16. Community circle of trust in Circle Lending So how does the user content work? P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  16. 17. The Social Lending market ..just like eBay, price comparison websites, amazon and Linkedin P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  17. 18. The Social Lending market P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  18. 19. The Social Lending market Internet competent Financially savvy Stimulated by risk-taking “ Mini-preneur” Desire control, uniqueness and autonomy Niche Mass P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  19. 20. Why Social Lending? P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  20. 21. Importance of Trust in Banks P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  21. 22. Trust ‘ Banking is fundamentally a business of trust. If we don’t have our customers’ trust, we won’t have their business.’ P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  22. 23. Financial return, saving, risks and rewards P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction So let’s recap…..
  23. 24. <ul><li>‘ And the world’s a stage, </li></ul><ul><li>And all the men and women merely players: </li></ul><ul><li>They have their exits and their entrances; </li></ul><ul><li>And one man in his time plays many parts’ </li></ul><ul><ul><li>(Shakespeare, As You Like It, c.1559). </li></ul></ul>Conclusion: Yesterday’s Today P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction The opportunities for communication are not only vast but also enable people to construct personally meaningful identities. These ‘selves’ are fragmented and multiple, allowing people to have a ‘distributed presence’ as they construct different selves in different ‘windows’ at the same time.
  24. 25. Conclusion: Yesterday’s Today P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction
  25. 26. Conclusion: Yesterday’s Today P2P Banking Game changers Zopa Facts Social Lending Trust Conclusion Introduction Key Learnings <ul><ul><li>The SOCIAL LENDING community really care </li></ul></ul><ul><ul><li>and want it to work, direct communications </li></ul></ul><ul><ul><li>with our members are critical to successful </li></ul></ul><ul><ul><li>development (e.g. blog, Bulletin Board, email etc)  </li></ul></ul><ul><ul><li>TRUST is earned in financial services through </li></ul></ul><ul><ul><li>time, a trusted safe and secure marketplace is </li></ul></ul><ul><ul><li>critical to success </li></ul></ul>

×